DaVita to redeem 5 5/8% convertibles

New York, June 19 - DaVita Inc. said it will redeem its $125 million 5 5/8% convertible subordinated notes due 2006 on July 15.

The Torrance, Calif. dialysis services provider will pay $1,016.90 per $1,000 principal amount of the notes including accrued interest.

Holders may convert the notes up to 5.00 p.m. ET on July 14 at a price of $25.62 per share. DaVita stock closed at $26.49 Thursday.

Tekelec to redeem 3.25% convertibles

New York, June 19 - Tekelec said it called for redemption all its 3.25% convertible subordinated discount notes due 2004.

The Calabasas, Calif. company will redeem the notes on July 19 at a price of $958 per $1,000 principal amount plus accrued but unpaid interest.

Holders can convert the notes into common stock at the rate of 56.3393 shares per $1,000 principal amount at maturity up to 2.00 p.m. ET on July 18. Tekelec stock closed at $12.10 Thursday.

The convertibles were issued to yield 6.75%, Tekelec noted.

The principal amount at maturity of the notes is $135 million. If no notes are converted, Tekelec will pay $129.3 million of cash for the redemption.

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